• Journal of Korea Technology Innovation Society
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• v.15 no.3
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• pp.700-721
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• 2012

This paper deals with methods for determining the reasonable royalty rates in the valuation of patents. To calculate the reliable reasonable royalty rate of a patent, we review pros and cons of the 25% rule royalty calculating method and the recent trend of this method. We also review the game theory of Nash Bargaining equation and review the Investment of Rate of Return Method according to the financial analysis. Next, we refer to the reasonable royalty damage cases among the recent patent infringement cases in USA and analyze the corresponding patents. We extract the patent indicators from the patent bibliographic information. Finally, we obtain a regression model for calculating a reasonable royalty rate using the patent indicators and the reasonable royalty rates in the recent patent infringement cases.

• Journal of Korea Technology Innovation Society
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• v.3 no.1
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• pp.113-126
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• 2000

The purpose of this paper is to introduce and test an extension of dichotomous choice contingent valuation(DC-CV) methods of pre-test-market evaluation using the specific case of a cable telev-ision service. Specifically we used a double-bounded DC-CV approach. On the whole respondents accepted the contingent market and were willing to contribute a significant amount on average. This willingness varies according to individual characteristics and concerns about the service. It is concluded that the methods are potentially a useful tool for decision-makers in measuring the po-tential demand for a new cable television service and considering the provision of the service.

• Journal of Korea Water Resources Association
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• v.40 no.7
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• pp.503-510
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• 2007

In the area of such a nature-friendly stream improvement, it is not established yet which engineering method is suitable for stream environment, due to lack of technology. Therefore, although nature-friendly stream improvement was done with expensive engineering method, the effect has not been fully confirmed, which results from the absence of overall valuation tool of stream improvement. In this regard, it is necessary to develop and apply comprehensive and diverse valuation methods covering stream functions to the analysis of stream improvement. In this study, we collected data from years' of monitoring on the Gyeongcheon river, which is located in Sunchang-eup, Jeollabuk-do and recently underwent an nature-friendly stream improvement work. Based on the data, we developed a series of valuation methods such as stream naturalness evaluation, life cycle evaluation, amenity evaluation, and economic benefit analysis to consider the environmental function of stream from a comprehensive perspective. Stream naturalness evaluation is a quantitative analysis of how natural a stream is, and includes additional valuation items such as ecosystem and water quality for the purpose of overall valuation, unlike existing research focusing on physical elements and structural characteristics of a stream. We developed a method of stream valuation with life cycle assessment to river reorganization project. Amenity evaluation method was developed as a means to analyze residents' satisfaction with stream improvement through questionnaires. Economic benefit analysis was developed as a means to determine the attributes of environmental water supply, ecosystem, river maintenance, and water quality and predict economic benefits using contingent valuation method (CVM) and multi-attribute utility analysis (MAUA) method in order to analyze economic benefits brought in by stream improvement. It is considered that the four methods developed in this study make possible to conduct an overall and quantitative analysis of stream improvement.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2002.05b
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• pp.181-198
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• 2002

This article describes a methodology for evaluating huge aerospace R&D investments using the real options pricing method. Option pricing has been proposed as a useful approach for modeling investment in R&D. Two important features of R&D investments are that an R&D project takes time to complete and that the outcome of R&D investments is highly uncertain. This makes the analysis of R&D investments difficult. Traditional tools for project evaluation, like IRR or the NPV, are inadequate for coping with the high uncertainty. Hence, In this article I propose a log-transformed binomal lattice method, and it will show that option pricing might be an adequate framework for evaluating such types of aerospace investments.

• Journal of Digital Convergence
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• v.10 no.7
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• pp.11-22
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• 2012

Intangible assets are the important tool which decides upon economic wealth and development of knowledge-information economy. We have to make effective use of intangible assets in order to assure surplus earnings, competitive superiority. The importance of intangible assets, especially patent right, may be properly understood only when their values are assessed adequately. It is very significant to appraise rationally patent right value from finance support, technology transaction, investment decision, M&A, legal proceedings, strategy and etc. Thus the purpose of this study is to evaluate the economic value of a patent right using DCF(Discounted-Cash Flow Method). This paper presents the basic model, related principles and standards of valuation, and then, case analysis of patent right valuation using DCF.

• Journal of Service Research and Studies
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• v.6 no.3
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• pp.29-40
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• 2016

Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.

• Management & Information Systems Review
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• v.28 no.4
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• pp.27-44
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• 2009

Economic value of a certain technology is of great interest and importance in a wide variety of investment circumstances. These vary from companies considering investing in R&D projects, to venture capitalists funding start-up companies. However, such valuation is extremely difficult in any case, and the cost of failure can be very high. Many techniques have been proposed to assist managers facing this issue, from traditional discounted cash flow analysis to more recent methods based on real options. In the meantime, the discounted cash flow method has limitations in applying the valuation of technology. At the same time, there have been various solutions to overcome theoretical problems of the method. Real options have been thought as a solution. However, there are another problems in using them in real world. This paper reviews the previous studies on the valuation of technology in several aspects, discusses the practicability of the various methods available, and explore the application of a hybrid model, which aims to make these rather aore the ideas more accessible to practicing managers.

• Journal of the Korea institute for structural maintenance and inspection
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• v.27 no.5
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• pp.57-66
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• 2023

Asset valuation of social infrastructure is essential for rational decision-making for efficient management of assets. In addition, it can be an indicator for correctly recognizing assets. In general, Korea applies depreciated replacement cost based on the straight-line method to evaluate asset value, yet this is unsuitable for evaluating actual value because it is depreciated at a constant rate over the useful life period. In order to evaluate the asset value considering the performance of the bridge, the performance index of the bridge is estimated using the Weibull distribution. Using the estimated performance indicators and defect index, a new asset value evaluation method is proposed and compared and analyzed with the existing method. The proposed valuation method can take into account the performance of the bridge, so it is judged to be more objective and reasonable than existing method.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.81-87
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• 2014

In this study, along with the expansion of the national R&D projects, by analyzing the case of K research center of Land and Transport R&D projects, and was evaluated in the value of technology. The evaluation of the value of technology, were analyzed using the SMART3 targeting patents K research center indicate best technical aspects have registered. Analysis technical value of research center K, was found to have maintained the same level as the average of about of Land and Transport R&D projects. The significance of this study is that it was approached by more concrete approach of valuation of technology principle of national R&D projects. We expect that the study of evaluation method and diverse objective to achieve the intended purpose of the national R&D projects are carried out more.

• Proceedings of the KSRS Conference
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• v.2
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• pp.559-562
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• 2006

Although flood is a very common natural disaster in Bangladesh, recently Dhaka, the capital city of Bangladesh got flooded even in moderate rainfall. Accordingly, on January 2002 the sale and use of polythene bags were banned, by identifying it as one of the main causes for such flooding. Now the question arises, whether only polythene shopping bags are alone responsible for causing water logging problem. Accordingly, the objective of this study is to detect the reason(s) for the recent prolonged water logging problem in Dhaka City, even by small amount of rainfall. Both contingent valuation method and remote sensing technique were used for comparison of the results. The results of the study indicated that, not only polythene bags, but also unplanned land filling is also liable for creating water logging problem in Dhaka City. Finally, the study suggested that, the value of wetlands lost, which is directly related to the recent water logging problem, is more higher than what actually thought by the citizens of Dhaka City.